Commerce Bank cut its stake in shares of Public Service Enterprise Group Inc. (NYSE:PEG) by 1.6% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 46,717 shares of the utilities provider’s stock after selling 781 shares during the quarter. Commerce Bank’s holdings in Public Service Enterprise Group were worth $2,775,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Athena Capital Advisors LLC acquired a new position in shares of Public Service Enterprise Group in the 4th quarter valued at about $33,000. JNBA Financial Advisors acquired a new position in Public Service Enterprise Group during the 4th quarter worth approximately $45,000. Wealthcare Advisory Partners LLC raised its stake in Public Service Enterprise Group by 76.2% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 890 shares of the utilities provider’s stock worth $46,000 after buying an additional 385 shares during the period. Essex Savings Bank acquired a new position in Public Service Enterprise Group during the 4th quarter worth approximately $49,000. Finally, Truvestments Capital LLC acquired a new position in Public Service Enterprise Group during the 1st quarter worth approximately $49,000. 67.53% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts recently weighed in on the company. Mizuho upped their price target on Public Service Enterprise Group from $54.00 to $61.50 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. Wells Fargo & Co upped their price target on Public Service Enterprise Group from $60.00 to $66.00 and gave the stock an “outperform” rating in a research note on Thursday, February 28th. They noted that the move was a valuation call. Deutsche Bank downgraded Public Service Enterprise Group from a “buy” rating to a “hold” rating and set a $58.56 price target on the stock. in a research note on Thursday, February 28th. JPMorgan Chase & Co. downgraded Public Service Enterprise Group from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $64.00 to $62.00 in a research note on Tuesday, April 23rd. Finally, ValuEngine raised Public Service Enterprise Group from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $59.73.

Shares of PEG opened at $61.16 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.68 and a quick ratio of 0.52. The company has a market cap of $30.91 billion, a price-to-earnings ratio of 19.60, a P/E/G ratio of 3.08 and a beta of 0.40. Public Service Enterprise Group Inc. has a 52 week low of $49.22 and a 52 week high of $61.39.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.08. The firm had revenue of $2.98 billion during the quarter, compared to analyst estimates of $2.78 billion. Public Service Enterprise Group had a return on equity of 11.35% and a net margin of 16.03%. During the same period in the previous year, the company posted $0.97 EPS. Analysts expect that Public Service Enterprise Group Inc. will post 3.27 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date is Thursday, June 6th. Public Service Enterprise Group’s dividend payout ratio is currently 60.26%.

In other news, EVP Tamara Louise Linde sold 13,535 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $60.04, for a total value of $812,641.40. Following the completion of the transaction, the executive vice president now directly owns 49,909 shares of the company’s stock, valued at $2,996,536.36. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Daniel J. Cregg sold 625 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $59.25, for a total value of $37,031.25. The disclosure for this sale can be found here. Insiders have sold a total of 180,679 shares of company stock valued at $10,657,989 over the last three months. Corporate insiders own 0.51% of the company’s stock.

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Public Service Enterprise Group Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid- Atlantic United States. It operates through two segments, PSE&G and Power. The PSE&G segment transmits electricity; distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs to customers.

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Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

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